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cnbc.com
10-year Treasury yield jumps to 4.57% as jumping oil prices reignite inflation fears
Treasury yields surged after President Donald Trump told the NATO summit that the ceasefire with Iran is over.
cnbc.com
Trump says he doesn't want anything to do with Spain: 'Cut off all trade'
U.S. President Donald Trump slammed Spain for not contributing enough to NATO, as he attended the defense alliance summit in Turkey.
theguardian.com
German car industry warns of job collapse unless ‘bold decisions’ made to address Chinese threat
VW to propose 100,000 job losses to board and says car plants could be put under foreign ownership to save jobsEurope live – latest updatesThe German car industry has warned of a potential collapse of employment in the sector in Europe unless society and workers accept that “bold decisions” are needed to address competition from the Chinese and other rivals.Volkswagen is preparing to formally propose up to 100,000 job losses , a move that has triggered a wave of protests. Continue reading...
bbc.co.uk
Severn Trent avoids fine for wastewater failures
The water firm took "genuine accountability" after breaching wastewater obligations, Ofwat says.
cnbc.com
Fed meeting minutes to show 'family fight' over rates. The squabble could drag on for a while
There have been few instances over the past 35 years or so when the Fed has only made one rate move, be it up or down.
theguardian.com
Oil prices jump over 5% after Trump suggests ceasefire with Iran has ended following fresh US strikes – business live
Brent crude spikes to a daily high of $79.26, gas prices rise, stock markets slide and government bond yields surge on inflation and rate hike fearsUS and Iran trade strikes around strait of Hormuz as ceasefire is violated againSummer holiday bookings have bounced back recently after the fragile ceasefire in the Middle East, the package holiday operator Jet2 has said.The company, which flies about 20 million people every year, said its summer bookings are up by 7.1% compared with this time last year and the average load factor – which measures its available seating capacity filled with paying passengers – is up 1.2 percentage points.There is still a massive amount of people who want to go away. But they have delayed their purchase because they wanted to see what happened with the conflict.The market is now in good shape, and consumers are desperate to go away and perhaps sleep in a room with air conditioning.Turkey, Cyprus, eastern Greek islands, Bulgaria and parts of north Africa have rebounded the most in percentage terms, but all destinations have increased. Continue reading...
theguardian.com
Virgin Media fined record £28m for stopping customers cancelling contracts
Ofcom levies largest-ever consumer protection fine after finding firm deliberately mishandled millions of phone callsBusiness live – latest updatesVirgin Media has been fined £28m by the UK telecoms watchdog for repeatedly preventing customers from cancelling their contracts over a near three-year period.Ofcom discovered that Virgin Media “likely mishandled” millions of phone calls between the start of 2022 and autumn 2024, with deliberate call-dropping tactics, unnecessary call transfers and putting customers on hold for “no reason”. Continue reading...
theguardian.com
Housebuilder Vistry warns of losses amid heavy discounting on unsold homes
Group blames expected £30m loss in first half of year on weakening market and lower consumer confidenceVistry Group, one of Britain’s biggest housebuilders, has said it will make a loss in the first half of the year, after it resorted to heavy discounting to attract buyers for unsold homes .Vistry shares fell by 8% after the firm also announced its finance director was leaving. Continue reading...
theguardian.com
More Reform UK transactions worth millions reported to National Crime Agency
Exclusive: Bankers have raised potential money-laundering concerns over loans and donations involving senior party figuresUK politics live – latest updatesA host of transactions involving Reform UK’s most senior figures and donations to the party caused bankers to report potential money-laundering concerns to the National Crime Agency, a Guardian investigation has found.On Tuesday, the Guardian revealed that the undisclosed £5m gift provided to the Reform leader, Nigel Farage, by a cryptocurrency billionaire shortly before the 2024 general election was reported to the NCA.One relates to a £1m donation made to Britain Means Business, a fundraising organisation for Reform UK, before the last general election. Half of the £1m was then transferred by Tice, as director of the company, to Reform UK. Renamed from Leave Means Leave, Britain Means Business is a company that is used to help fund Reform. The £1m seemingly came from the aristocrat and Reform UK donor Fiona Cottrell. In this instance, the Guardian understands bank staff were not satisfied that the funds had ultimately come from her. The NCA has sought help from a foreign partner agency to trace the original source of the funds.Two other SARs relate to a loan from George Cottrell to Tice. The loan was made shortly before Tice finalised a property purchase and made a party donation, and was not repaid until after those two transactions were completed, according to sources. George Cottrell is the son of Fiona Cottrell, and is a convicted fraudster, former deputy treasurer of Ukip and close associate of Farage.A fourth relates to the £5m gift from the Thailand-based businessman Christopher Harborne to Farage, which was first revealed by the Guardian in April. Continue reading...
bbc.co.uk
Virgin Media fined after hanging up on customers trying to cancel contracts
Millions of phone calls from customers were "likely mishandled" over nearly a three-year period, the regulator says.
theguardian.com
Unions in Europe press for new worker protections to counter heat stress
Climate crisis prompts calls for workplace temperature limits and rights to heat breaks and adjusted working hoursAs Europe’s sweltering summer continues, trades unions are mounting a push for new laws to counter deadly heat stress that is linked to an estimated 230 workplace deaths a year.This year’s toll may be even higher, with 1,300 excess European deaths already connected to the June heatwave by the World Health Organization, and other estimates running as high as 20,000. Continue reading...
cnbc.com
Trump pours cold water on NATO allies' united front
Trump criticized NATO allies over defense spending, attacked Spain and renewed his Greenland push during the alliance’s summit in Turkey.
theguardian.com
Severn Trent spared Ofwat fine after ‘serious’ waterwaste and sewage failures
Regulator found ‘unacceptable’ breaches in water company’s handling of drainage and sewage networkBusiness live – latest updatesThe water company Severn Trent has been spared a fine by the industry regulator despite “serious and unacceptable breaches” in its handling of wastewater and sewage.The watchdog, Ofwat, which has been investigating how wastewater and sewage networks are managed across the industry, found that the FTSE 100 company had breached its duties by failing to effectively provide drainage and deal with the contents of its sewers. Continue reading...
cnbc.com
Apple commits $30 billion to Broadcom for U.S. chipmaking push
Apple is expanding its Broadcom partnership in a $30 billion-plus chipmaking agreement, its largest American manufacturing commitment to date.
cnbc.com
Trump says Iran ceasefire is 'over' after latest round of strikes
The president was asked about the ceasefire after an escalation of fighting in the Middle East.
cnbc.com
Trump opposes Carroll getting $5 million damages verdict, cites last-ditch Supreme Court bid
Trump has been found liable in two trials for defaming E. Jean Carroll when he denied her claim he sexually abused her in a New York department store.
cnbc.com
Trump doubles down on push for control over Greenland as Denmark vows to defend it
U.S. President Donald Trump on Wednesday said the U.S. needs to control Greenland “for the protection of the world."
theguardian.com
Summer holiday bookings bounce back after fragile Middle East ceasefire, Jet2 says
Company says market in good shape with strong recovery across all destinations as customers take the plungeBusiness live – latest updatesSummer holiday bookings have bounced back recently after the fragile ceasefire in the Middle East, the package holiday operator Jet2 has said.The company, which flies about 20 million people every year, said its summer bookings are up by 7.1% compared with this time last year and the average load factor – which measures its available seating capacity filled with paying passengers – is up 1.2 percentage points. Continue reading...
bbc.co.uk
The places where it's cheaper to holiday this summer
Family deals to many non-European destinations are cheaper this summer than last, as travel nerves have slowed bookings.
bbc.co.uk
From mouthwash to hair dye: How weight-loss jabs are changing shopping habits
The BBC looks at how spending habits have shifted as users report feeling less hungry.
cnbc.com
SambaNova hits $11 billion valuation as investors back Nvidia chip challengers
SambaNova is valued at $11 billion after fresh financing led by General Atlantic, as AI chip startups look to challenge Nvidia.
theguardian.com
Port of Dover faces ‘utter chaos’ under struggling EU entry system, MPs warn
UK government urged to apply pressure on France to fix system or suspend checks by next weekBusiness live – latest updatesCross-Channel ferry passengers and the port of Dover face “utter chaos and miles of tailbacks” under the EU’s entry/exit system (EES) unless the technology is fixed or checks suspended by next week, MPs have warned.The home affairs select committee chair, Karen Bradley, urged the government to “apply maximum pressure” on the French authorities to act on the EES before peak holiday traffic arrives at the port. Continue reading...
cnbc.com
Singapore's Temasek boosts China exposure by $7.7 billion, biggest rise in five years, in AI-driven pivot
Temasek is repositioning its China portfolio toward AI-related hardware and infrastructure, robotics, biotech, energy transition.
cnbc.com
Singapore's Temasek hits record portfolio value, eyes more investment in AI, infrastructure and private credit
Over the course of its financial year, Temasek recorded a gain of S$49 billion and a 10.5% total shareholder return.
bbc.co.uk
'You have to say no': Families struggling with holiday food costs
Susan Lilley, a single mother of two, said the weekly shop has become one of her biggest financial worries.
cnbc.com
China warns about AI risks with Anthropic's Claude Code
China said specific versions of Claude Code posed back-door vulnerabilities that could send sensitive information to a remote server.
theguardian.com
The great carbon capture con: behold the wasted billions Burnham could claw back | George Monbiot
There are far better ways to tackle climate breakdown, but successive governments have chosen to listen to the fossil fuel companies insteadThe new prime minister will be looking for money? Well, here’s £21.7bn lying on the ground. The government could cancel its deranged, disastrous carbon capture and storage (CCS) programme at no cost to public welfare: in fact, it would greatly reduce the harm we will suffer.Sorry, did I say £21.7bn? That’s the figure the government has been putting in its press releases for spending on this programme between now and 2050. But this covers only the first phase of the project. The climate experts Dr Andrew Boswell and Simon Oldridge worked through the data produced by the government’s Climate Change Committee, which was scattered across different spreadsheets, and discovered that the projected cost of the full CCS programme between now and 2050 is £264bn.George Monbiot is a Guardian columnist Continue reading...
bbc.co.uk
Trains and emergency calls affected after major outage at Australia's largest telecoms company
Servers at data centres in Sydney and Melbourne were to blame but the exact cause remains unknown.
cnbc.com
Samsung-backed AI chip firm Rebellions targets IPO in South Korea next year, CEO tells CNBC
Sunghyun Park, CEO of Rebellions, told CNBC that the company is leaning toward a listing on the KOSPI over the KOSDAQ.
cnbc.com
U.S. conducts strikes on multiple Iranian targets after Hormuz Strait ship attacks, Centcom says
Kuwait accused Iran of fresh attacks after U.S. strikes hit Iranian targets, raising fears over the Strait of Hormuz and oil prices.
cnbc.com
This former Apple executive is betting on Shenzhen, not Silicon Valley, to create the 'next Apple'
Startups building consumer electronics will have a better shot at becoming the next Apple in Shenzhen than in Silicon Valley, said Will Wang, CEO of China's smart-glasses startup.
theguardian.com
UK housebuilders have far too much power. Now a £4.5bn lawsuit could change that for good | Peter Apps
A legal case on behalf of some 700,000 people against the country’s biggest housebuilders could be a catalyst for much-needed industry reformEvery new government – at least for the past decade or so – has come into office with a promise to build more homes. New ministers don a hard hat, take a trip out to a recently completed development and smile indulgently as a bright young couple get given the keys to a smart-looking new-build. Then follows a speech about aspiration.The unspoken truth will be that it is not up to the minister how many new homes are built in his or her term. Instead, this decision is mostly made in the boardrooms of the largest developers, who together control the land and resources to dominate the market in this country.Peter Apps is the author of Show Me the Bodies: How We Let Grenfell Happen Continue reading...
bbc.co.uk
Australia dock workers call for 28-hour week in AI talks
A union says workers are "in the crosshairs" of automation as AI is being tested across ports.
theguardian.com
Aliens, chimps and a pregnant man: iconic British adverts – in pictures
They may have been unethical, potentially dangerous and somewhat sexist … but each of these classic adverts, from the PG Tips chimps to the Tango slapper, caught the public’s imaginationBaldy Man, Gold Blend flirters and mash-mad Martians: TV’s golden age ads Continue reading...
cnbc.com
CNBC Daily Open: Dispatch from NATO, U.S. strikes Iran and Le Pen is back
Tensions between the U.S. and its allies heat up at the NATO Summit, while a fresh wave of stikes threatens the ceasefire in Iran.
cnbc.com
Andy Burnham's theory of devolution for Britain
The U.K.'s prime minister in waiting wants to devolve power from London to the nation’s regions. But past efforts have been anything but successful.
cnbc.com
Apple begins testing CXMT chips for devices sold in China, FT says
Apple begins testing CXMT chips for devices sold in China, FT says
bbc.co.uk
Airbnb data identifies illegal social home sublets
Nearly 6,000 social homes are thought to be illegally listed on short-term rental platforms.
cnbc.com
Lawmakers probe growing use of Chinese AI models in U.S. companies
An ongoing House Committee investigation is probing the risks involved in the rise of AI built in China.
cnbc.com
Chinese autonomous-driving firm Momenta rises 3% in Hong Kong stock debut
Chinese autonomous driving firm Momenta debuted on the Hong Kong stock exchange on Wednesday, rising 3%.
cnbc.com
China's rare missile test will push wary Asia-Pacific countries to close ranks, analysts say
China's rare launch of a ballistic missile launch into the Pacific will push regional powers to deepen their defense ties.
cnbc.com
CNBC Daily Open: Strait of Hormuz, Ukraine's attacks in Russia, Greenland
Geopolitics are back in focus, with the U.S. retaliating against Iran after several ships were struck in the Strait of Hormuz, and Ukraine hitting Russia.
bbc.co.uk
Hundreds of jobs at risk as John Lewis plans to cut some services
No final decision has been made but the job cuts will happen in the autumn if the redundancy plans are approved.
bbc.co.uk
Victims of 23andMe data breach to get $47m payout, judge rules
23andMe compiles genetic profiles of people through DNA testing kits, but it was heavily criticised after a 2023 hack.
cnbc.com
Netflix, Disney and YouTube interested in FIFA World Cup U.S. rights; package could reach $2 billion
FIFA has alerted media companies that English- and Spanish-language U.S. rights are likely to be sold together for 2030 and 2034, likely driving up the price.
cnbc.com
U.S. revokes Iran oil sales authorization after tanker attacks
Treasury had waived sanctions on Iranian oil through Aug. 21 after Washington and Tehran inked an interim deal to reopen Hormuz last month.
cnbc.com
Strait of Hormuz threat level raised to 'severe' after Iran attacks tankers using U.S. Navy route
Iran's military has warned it will target ships that do not use a northern route approved by Tehran.
theguardian.com
An emphatic victory for the Mail: how a £50m privacy case unravelled in court
Claimants are left with a huge legal bill after failing to prove the newspaper had engaged in any unlawful activitySecret listening devices inside people’s cars and homes. The commissioning of investigators to listen in on live phone calls. Corrupt payments to police officers. Illicit acquisition of personal medical and financial documents.When the claims first appeared in 2022, they read more like the modus operandi of an organised crime gang than a newspaper publisher. Yet lawyers for a group of claimants taking the publisher of the Daily Mail to court alleged that they were just the “tip of the iceberg”. Continue reading...
theguardian.com
Prince Harry and other claimants could face £50m legal bill after losing phone-hacking case
High court dismisses claims by group including Duke of Sussex that Mail publisher used unlawful methods to source stories about themPrince Harry and six other prominent figures are facing a legal bill of up to £50m after losing their case against the publisher of the Daily Mail over claims it used unlawful methods to source stories.In an emphatic ruling that is likely to signal an end to new litigation relating to the phone-hacking scandal era, the high court dismissed all the group’s claims, stating that the claimants had not proved that any information had been obtained unlawfully. Continue reading...
theguardian.com
Prince Harry gets burned in his mission to ‘slay dragons’ of British media
Harry claimed victory in two earlier legal actions but he and his co-claimants lost their lawsuit against ANL on TuesdayPrince Harry and others could face £50m legal bill after losing phone-hacking lawsuitThe Duke of Sussex has variously described his long-running legal battles with certain sections of the British media as a “mission” and a “life’s work”.“I’ve been told that slaying dragons will get you burned,” was his defiant response when he claimed victory against Mirror Group Newspapers in December 2023 over historic allegations of unlawful information gathering, adding it was a “worthwhile price to pay”. Continue reading...
cnbc.com
Meta enters AI image model race in bid to court advertisers and subscribers
Meta has announced Muse Image, its first AI model for image creation, as it seeks to attract creators and advertisers to its offerings.
theguardian.com
EasyJet’s board has surrendered too easily to US bidder | Nils Pratley
The company’s target to hit £1bn profitability is intact. Why isn’t the board putting up a proper fight?Some foreign takeover swoops on UK listed companies are easier to swallow than others. Sometimes it is hard to mount an argument that shareholders should stick to the virtuous path of independence and say no to an offer of hard cash at a fat premium. The current £10bn bid for Intertek, the FTSE 100 product testing and quality inspection firm that had been going sideways for a while, probably falls into that category. The bid premium on that one was about 60%.EasyJet, on other hand, looks to be a case of a board giving up before it has put up a proper fight. The story so far at the budget airline is that three non-starter offers from Castlelake, a US private investment firm that is big in aircraft financing and leasing, were rejected in the standard manner as “fundamental” undervaluations. The last of those was at 625p. A fourth, at 650p a share, was dismissed in the softer language of “substantial”. Then “an agreement in principle” was reached at the weekend at 690p, or £5.5bn. Castlelake has until 3 August to put up or shut up. Continue reading...
theguardian.com
Hundreds of jobs at risk as John Lewis announces closure of in-store services
Desks offering gift wrapping and bureau de change stations will be closed at dozens of stores nationwide John Lewis has put 200 jobs at risk as it plans to shut down desks operating gift wrapping and foreign exchange services.The 36-strong department store chain said it had begun a consultation on redundancies as it plans to close the desks that operate bureau de change services in 30 stores, and specialist gift wrapping in 25 stores. Continue reading...
theguardian.com
Italian village to impose fines of up to €200 on tourists with bare chests or in swimwear
Varenna’s authorities say wandering around the village shirtless or in swimwear is now bannedA fishing village by Lake Como has imposed fines of up to €200 (£170) for people who wander around with bare chests or in swimwear, in the latest attempt by an Italian holiday destination to crack down on uncouth tourists.Varenna has been feeling the strain from an increasing number of visitors and so authorities were moved to introduce new rules aimed at preserving the village’s appearance and guaranteeing a smidgen of peace and quiet for its year-round population of roughly 650. Continue reading...
cnbc.com
Trump renews Greenland threats at NATO summit, says U.S. could remove troops from Europe
NATO fell into a crisis earlier this year as Trump demanded that the U.S. must take control of Greenland on national security grounds.
cnbc.com
Ukraine has already won the war against Russia, Finnish president tells CNBC
Ukraine needs NATO, but NATO needs Ukraine just as much, the Finnish president told CNBC on Tuesday.
bbc.co.uk
One million more UK homeowners set to face higher mortgages
Homeowners face paying £45 a month more on average when they move onto a new deal over the next two years.
theguardian.com
M&S invests in fridges that can cope with weather as hot as 45C
Retailer admits it struggled in June heatwave and also had to order more ice-cream to keep pace with demandMarks & Spencer is investing in refrigeration equipment that can cope with weather as hot as 45C as the climate crisis is expected to drive regularly higher temperatures in the UK.“There is no doubt we were struggling in the nine days of [recent] extreme heat,” Stuart Machin, the chief executive of the food, fashion, beauty and homewares retailer, told shareholders at the group’s annual meeting in London on Tuesday. Continue reading...
theguardian.com
Bank of England plans to ease capital rules despite AI stability fears
Central bank’s financial policy committee members voice concern on trimming big lenders’ financial buffersThe Bank of England is planning to loosen capital requirements for major UK lenders, even as policymakers expressed concern about the threat to financial stability from rapid AI developments and debt-fuelled stock investments.The central bank said on Tuesday it was looking to remove and loosen some rules introduced after the 2008 financial crisis that determine the size of the financial cushion required to absorb losses and protect consumers and taxpayers when things go wrong. Continue reading...
bbc.co.uk
Online gamblers betting more than £1,000 to face new checks
Punters who bet more than £1,000 online in a 24-hour window will have to undergo an assessment, the regulator says.
cnbc.com
Trump ally Nigel Farage quits UK parliament amid finance scandal to fight special election
Reform U.K. leader Nigel Farage has quit as MP for Clacton, forcing a by-election that he has said he will fight.
theguardian.com
Curry, bagels … and AI? Londoners fight plan for huge datacentre in Brick Lane
Residents and council say creating affordable housing is more urgent than ‘high-frequency trading’ in nearby CityCampaigners in east London are opposing plans for a datacentre in Brick Lane that they say will worsen the area’s housing crisis and drive long-term residents away.The road, famed for its curry houses and 24-hour bagel shops, is the latest flashpoint in the rapid rollout of datacentres across the UK that aims to meet demand created by artificial intelligence. Continue reading...
bbc.co.uk
Budget Energy announces 9.5% price increase
Budget Energy NI says the rise is due to the "continued volatility" in wholesale energy markets.
theguardian.com
What will define Elon Musk’s legacy? Doge cuts to USAID Ebola programs
Experts say cuts have hindered the response to DRC’s Ebola outbreak and resulted in ‘significant numbers’ of deathsElon Musk has an Ebola problem. SpaceX stock dropped precipitously after its initial public offering, and Tesla faces a wave of lawsuits. But instead of focusing on his companies, Musk has posted frequently on X about the US Agency for International Development (USAID), which he helped dismantle – or, in his words, feed into the woodchipper – last year.“Elon’s USAID crash-out over the past week has been a thing to behold,” said Jeremy Konyndyk, a former top USAID official who oversaw the agency’s Ebola response in 2014-2015 and the president of Refugees International. “In a way, it’s helpful that Elon is doing this, because it’s putting attention back on the issue of what he did last year.” Continue reading...
cnbc.com
Why oil investors fear the next toll fight could be the Strait of Malacca
The prospect of fees to transit the Strait of Hormuz has sparked alarm, not least by investors who fear it could be replicated in other maritime corridors.
bbc.co.uk
E-bike injury payouts top £110m and push up insurance premiums
It is only seven years since the first claim over an injury from a micromobility vehicle was made.
theguardian.com
Low-cost loans for solar panels could save households hundreds on bills – thinktanks
New Economics Foundation and Finance Innovation Lab suggest loan scheme backed by Bank of England could benefit up to 8m homesMillions of UK households could save hundreds of pounds a year on their energy bills if the government were to approve low-cost loans for solar panel installation, research has found.Solar panels with batteries are one of the cheapest ways to generate electricity and reduce energy bills, but with an upfront cost of about £6,000 they are still beyond the reach of most cash-strapped UK households while other countries forge ahead with installation. Continue reading...
bbc.co.uk
Volunteers racing to save surplus Silverstone food
A Towcester community larder is collecting produce from the circuit following the Grand Prix.
bbc.co.uk
People Fixing The World
The people turning life experience into business ideas with funding and other support
bbc.co.uk
Samsung profits jump 1,800% as AI chip sales soar
The firm's shares fell sharply on Tuesday as some investors had expected an even stronger performance.
theguardian.com
UK house prices rise for first time since start of Iran war
Typical property cost £299,330 in June, 0.2% more than the month before, says LloydsBusiness live – latest updatesHouse prices across the UK have risen for the first time since before the onset of the Iran war, leaving property values narrowly below those at the start of the year, according to a survey.The typical property cost £299,330 in June, a 0.2% increase on the month before. This came after a monthly drop of 0.2% in May, according to the latest Lloyds house price index, previously known as the Halifax HPI. The annual growth rate edged higher to 0.6% from 0.5%. Continue reading...
theguardian.com
Sun stoppers: seven ways to keep your home cool this summer
You can keep temperatures down without the cost – or environmental price – of air conditioning. Here’s some tips and tricksThe best fans to keep you cool in 2026 – tried and testedIn the UK we are used to worrying about our homes being warm enough, but after struggling to cope with high temperatures in May and June the race is on to cool them down before the next heatwave hits.And while it might be tempting to swap your desktop fan for a portable air conditioner, there are lots of low-cost, more sustainable ways to stop rooms overheating. Continue reading...
theguardian.com
Student loan promotion in England and Wales amounted to mis-selling, MPs say
Treasury select committee also says ministers have moral obligation to reverse last year’s repayment threshold freezeSlideshows that compared student loan repayments with the cost of a mobile phone contract, and YouTube videos that did not mention the fact that loan terms could change amounted to mis-selling by the government, MPs have said.The chancellor, Rachel Reeves, caused a furore last year when she announced that the repayment threshold on plan 2 student loans would be frozen at £29,385 for three years from April 2027. Continue reading...
theguardian.com
Sleaze is back and children are hungry – for Project Burnham, these have to be top priorities | Polly Toynbee
Our new PM will be hit by multiple crises when he enters No 10. Success or failure will depend on the decisions he makes in first 100 daysOn the day the new prime minister steps into No 10, the heap on his doormat will be ceiling-high with missives imploring, advising, warning and counselling. No doubt there will be many pearls of wisdom and some bad ideas too. Each one will involve getting or spending money, decisions for his first totemic 100 days.It so happens that his first day, 20 July, is the first week of school summer holidays in England and Wales. As he walks into Downing Street, millions of children will leave the school gates “walking into nothing”, as one child told the Children’s Society. Lonely, isolated, caring for siblings, many hungry, some at risk – for those children, six weeks will loom ahead with Covid-like emptiness, home alone as parents work, no splashing in the sunlit waves of the holiday ads.Polly Toynbee is a Guardian columnist Continue reading...
theguardian.com
Russian cities feel the pinch amid worsening fuel shortages
Ukraine’s drone and missile campaign on oil infrastructure has brought impact of war to citizens of Moscow and elsewhereFive hours into the queue, tempers were already fraying at the gas station. Then a black Audi Q7 swept past dozens of waiting cars and pulled straight up to the pumps. Within minutes, motorists were shouting, mobile phones were recording and a police officer had drawn his pistol to calm the crowds.The confrontation, filmed on Saturday night at a filling station in the Siberian town of Ust-Ordynsky, captured the growing frustration over Russia’s worsening fuel shortages, which have spread across a country that remains one of the world’s largest oil producers. Continue reading...
bbc.co.uk
Robots available for rent: But what can they do?
Robotics tech is changing fast, so for many it makes sense to rent a robot.
bbc.co.uk
Amazon bars breastfeeding boss from business course
Rachael Bews says she told on the way her child would not be allowed on site. Amazon has apologised for not communicating its policy clearly.
bbc.co.uk
'I wear it on my middle finger': The rise of the defiant divorce ring
Around the world women are marking their split with new - or repurposed engagement - rings.
bbc.co.uk
Banks accused of pushing customers away from basic accounts
Some of the UK's biggest banks have been failing their most vulnerable customers, according to the financial regulator.
bbc.co.uk
Phone contract comparisons 'amounted to mis-selling' student loans, MPs say
A new report says students were not well-enough informed that their loan terms could change retrospectively.
bbc.co.uk
Can China repeat its EV success with robotaxis?
China's self-driving car firms have been given a headstart by the country's EV supply chain as they expand globally.
theguardian.com
The shadowy movement behind ‘Trump accounts’ – Stateside with Kai and Carter
On the Fourth of July, the Trump administration's new savings accounts for children went live. These ‘Trump accounts’, created as part of the One Big Beautiful Bill Act, are ostensibly supposed to help families pay for college and other expenses. But Guardian columnist Moira Donegan says these accounts are really the work of the pronatalist movement, which wants women to have as many babies as possible – and is backed by powerful rightwingers such as JD Vance and Elon Musk. Moira speaks with Carter Sherman about the strange bedfellows who make up the movement, including its ties to the racist conspiracy theory known as the ‘great replacement'How do ‘Trump accounts’ work – and who will benefit? Continue reading...
theguardian.com
The Guardian view on apprenticeships: young people need help getting started at work | Editorial
Existing staff are taking too much of a fund intended for new recruits. Ministers must take charge of redirecting itFor the roughly 64% of young people who do not go to university, apprenticeships are vital gateways to the world of work. The way that funding has flowed away from them and towards older workers in recent years was flagged as a problem in the interim report from Alan Milburn’s review on young people and work in May. Mr Milburn’s recommendations are still some months off. Apprenticeships are not solely for school‑leavers: people of all ages should be able to apply for paid trainee posts. But it is clear that the way incentives in the system have tilted against younger adults is one reason behind the huge rise in the number who are not in education or jobs.The positive signs are that ministers will not wait for Mr Milburn to do something about this. A letter from Jacqui Smith, the skills minister, to the recently formed agency Skills England, last month, asked for urgent advice about which apprenticeship programmes should receive funding increases. It also announced an ambition for 50,000 more young apprentices, annually, by March 2029 – reversing almost half of the decade-long decline.Do you have an opinion on the issues raised in this article? If you would like to submit a response of up to 300 words by email to be considered for publication in our letters section, please click here. Continue reading...
theguardian.com
Who is George Cottrell, the mystery donor who has potentially landed Nigel Farage in hot water?
Nigel Farage, leader of Reform UK, has said he is the victim of an “establishment hit job”.The statement comes after The Sunday Times revealed Farage received financial support in 2024 from George Cottrell aka “Posh George”, an aristocrat who has been convicted of fraud in the US. The money was used to finance social media staff, and personal security.It comes after The Guardian revealed earlier this year that Farage had failed to declare a £5m gift from the crypto billionaire Christopher Harborne just before he announced his intention to stand for parliament.The Parliamentary Standards Commissioner is currently investigating whether Farage broke the rules over that gift.Nigel Farage has always said this money was for personal use and denied he has broken any rules.Nigel Farage cries ‘witch-hunt’ – but this may be Reform’s Partygate momentFraudster George Cottrell seen at numerous Reform events despite ‘no formal role’ in party Continue reading...
bbc.co.uk
Microsoft cuts 4,800 jobs and shrinks Xbox in 'significant restructure'
The sweeping layoffs equate to 2.1% of Microsoft's workforce, with 1,600 immediate job losses at Xbox.
bbc.co.uk
ITV hits such as I'm a Celebrity to stay free to watch after Sky takeover
Sky boss Dana Strong's comments came as the channel announces it is buying ITV's media and entertainment divisions in a £1.6bn deal.
theguardian.com
‘Smart operator’: how BT’s first female CEO helped turn company around
The firm’s share price has risen 80% under Allison Kirkby’s leadership – but pressure remains for her to deliver further growthIf timing is everything, then Allison Kirkby may have judged it perfectly.Since becoming BT’s first female chief executive more than two years ago the company’s share price has climbed 80%, an investor-pleasing turnaround that has seen Kirkby well-rewarded with a pay and bonus package of £5.6m last year, the largest for a boss of the telecoms company in well over a decade. However, there are questions over how much credit Kirkby can take for the apparent revival of the business. Continue reading...
bbc.co.uk
Wegovy weight loss pill now available in UK - here's what you need to know
The once-a-day pill, from the makers of the Wegovy weight-loss jab, can now be bought privately in UK pharmacies.
bbc.co.uk
Shoppers hit by hidden fees
Shoppers hit by hidden fees
theguardian.com
The new Isa rules melt my brain: but that’s not even the worst thing about these changes for first-time buyers | Jason Okundaye
Quite aside from all the convolutions, it’s clear the government is ignorant of the reality for young people like me hoping to get on the property ladderI need to talk about money. Specifically my finances and trying to buy a house as a young person. I hope you’ll forgive me if I sound like I don’t know what I’m talking about, but that’s because I’m going to try to make sense of the government’s reforms to personal savings accounts, known as Isas.These products have become significantly overcomplicated in recent years, with the government continually refreshing what were conceived of as simple tax-free savings accounts with new rules, allowances, products and age restrictions. I’m not alone in feeling overwhelmed and frustrated. As the deputy money editor of the i newspaper, Callum Mason, put it: “It’s hard enough to understand if you cover money for a living – I don’t know how the general public is supposed to do so.”Jason Okundaye is a Guardian Opinion assistant editor Continue reading...
theguardian.com
John Lewis dishwasher leak forced buyers into hotels for eight months
My elderly parents’ home was left uninhabitable, and they are owed £3,300 for repairs they had to fund themselvesMy elderly parents spent much of last year dealing with what should have been a straightforward insurance claim after a dishwasher installation by John Lewis caused a leak. Instead, it became a year-long ordeal, marked by repeated failures and an almost total absence of accountability. Continue reading...
bbc.co.uk
Backlash after China bubble tea firm ordered to pay Louis Vuitton $1.5m
A court in China ruled that Molly Tea had infringed on the luxury brand's four-petal flower design.
bbc.co.uk
Three things you can do to stop EU border checks at the airport costing you
Queues are expected at airports this summer owing to EU's new digital border control system.
theguardian.com
‘Did Westminster just ignore buses?’ Burnham aims to shake up UK transport
In the fourth of a series on nationalisation, we look at plans to emulate Manchester’s Bee Network in Britain’s buses and railWill Burnham ‘go big’ in expanding the role of the state?Atlee: the postwar blueprint that inspires BurnhamHow council housebuilding is central to Burnham’s visionWhether or not the promised land is reached via renationalisation, the man set to be next prime minister is clear what he wants transport to leave behind.“You go from deregulation to regaining public control, it’s just unbelievable what becomes possible,” said Andy Burnham, reflecting on the bus system he transformed in Manchester. “It’s mind-blowing that deregulation was ever, ever brought in – public interest went out the window and people were cut off.” Continue reading...
theguardian.com
Make Ed Miliband chancellor, ex-chief Treasury adviser tells Andy Burnham
Nicholas Stern joins growing number backing Miliband, saying he has vision and experience to revive economyA former chief economic adviser to the Treasury has called on Andy Burnham to appoint Ed Miliband as chancellor, arguing the energy secretary has a “bold” vision to revive the economy.Nicholas Stern, a professor at the London School of Economics who was a senior figure in the Treasury during Gordon Brown’s tenure, said only Miliband had the experience and the strategic vision to accelerate investment and rebuild public trust in the state’s ability to “get things done”. Continue reading...
bbc.co.uk
Money Box
Half a million people say 'no thanks' to joining a workplace pension, why?
bbc.co.uk
Consumer Fight Back
Linzi checks in on 89-year-old Margaret's battle to get her landline reconnected.
bbc.co.uk
AI is 'not smart' so what's next in artificial intelligence?
Leading AI researcher Yan LeCun has a start-up which is developing a more flexible AI system.
theguardian.com
Andy Burnham urged to be radical on economy to help Labour win next election
Exclusive: Poll shows policies such as rent control and higher wealth taxes could fend off Reform UK in key seatsAndy Burnham is being urged to adopt an “economic populist” approach to combating the cost of living crisis if he becomes prime minister, as a detailed opinion poll shows radical policies could help Labour to retain its majority at the next election.Senior figures advising the Makerfield MP have been circulating a seat-by-seat poll showing Labour’s majority could be demolished at the next general election with the party on course to win fewer than 100 seats. Continue reading...
bbc.co.uk
Why is crucial tech vulnerable to the heat?
Energy grids and train services are among the vital services that are vulnerable to very hot weather.
theguardian.com
The Burnham blueprint, as told by one of its architects – podcast
Andy Burnham has set out his economic plans for Britain. Neal Lawson, from the Burnham-aligned group Mainstream, explains the thinking behind itHelen Pidd has been one of Andy Burnham’s constituents for almost a decade now. She says she has seen Greater Manchester thrive on his watch. Now he wants to do for the rest of the country what he has done for her region. On Monday Burnham stood up in the People’s History Museum in Manchester and delivered his economic manifesto. Barring some 11th hour challenge or unforeseen calamity, he will have moved into No 10 by the end of July. But he says he wants to build another No 10. A Manchester one. What he is promising is radical, but just how credible is “rewiring” Britain?Neal Lawson is the founder of pressure group Compass, and more recently the Burnham-aligned Mainstream. He explains to Helen why Burnham is so keen to devolve power and what he wants to nationalise. But, he says, “I think what Burnham has done is kind of, by a sort of minor miracle, reach base camp. And now there’s the mountain to climb.” Continue reading...
bbc.co.uk
Why Gen Z are planning for life without a state pension
Many younger people do not believe the state pension will exist when they are older
bbc.co.uk
The legal fight to get equal pay for Germany's disabled workers
A test case is seeking the minimum wage for 300,000 disabled people who currently get paid less.
bbc.co.uk
Do you know your 'sweat score'? The rise of hydration tech
Hydration tracking gadgets are flooding the market but is it too much information?
bbc.co.uk
Is Germany looking again at coal-powered electricity?
It had planned to abandon the fuel, but the higher cost of natural gas may make it think again.
bbc.co.uk
The artificial ice pyramids saving India's mountain villages
Himalayan villages are creating artificial glaciers to guarantee water for their crops in the spring.
bbc.co.uk
'We had to get out of the way': The backlash over delivery robots
As the delivery vehicles increasing take to US streets, bans and protest groups are springing up.
bbc.co.uk
What is Helium-3 and could we get it from the moon?
Helium-3 is expensive and demand is forecast to soar, so some are planning to mine it on the moon.
bbc.co.uk
Why I sold my business to my staff
As more US company owners reach retirement age many are selling up to their employees.
bbc.co.uk
India's 'blue gold' starts a new drinks industry
Agave plants grow wild in India and new distillers are using them to create a spirits industry.
bbc.co.uk
The furious dispute over what caused Air India flight 171 to crash
The final conclusions of the investigation have yet to be published, although more could become apparent in the coming days.
bbc.co.uk
New candy stores are popping up across NYC. Why?
While US consumer confidence is at an historic low the Big Apple's sweet shops are expanding.
bbc.co.uk
Could humanoid robots be heading for the battlefield?
Armed forces are experimenting with humanoid robots, but battlefield deployment is some way off.
bbc.co.uk
How the High Street became a window on our political instability
High Streets have declined in recent years. What does this tell us about the UK?
bbc.co.uk
The £5 coffee that tells a story of global economic turmoil
Coffees at some city centre outlets now cost £5. It's a story of tariffs, the climate, Gen Z cultural tastes, and savvy coffee farmers playing the market, writes Faisal Islam
bbc.co.uk
The threat to summer holidays looming from jet fuel shortages
What impact might shortages have on our summer holidays - and what could be done about it?
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